AT TRAVEL AGENCIES AND OFFICES SELLING AIR TICKETS IN ARMENIA EXCHANGE RATE RISES TO 490 AMD/ 1 EUR

ArmInfo
2009-03-03 18:51:00

ArmInfo. At travel agencies and offices selling air tickets in Armenia
the exchange rate has risen to 490 AMD/ 1 EUR. As employees of a
number of travel agencies told ArmInfo correspondent, the abrupt rise
of the EUR exchange rate is connected with today’s fall of the AMD
exchange rate and uncertain situation. "Despite the average exchange
rate of AMD against EUR 460 AMD/ 1 EUR, we make calculations taking
into account the possible rise of the EUR exchange rate to 490-500
AMD in the near future",- they said.

According to the monitoring conducted by ArmInfo experts, in connection
with the March 3 fall in the exchange rate, the trade actually is
suspended, shops are closed, and the operating retail networks have
increased the prices by 30-45% at the mean.

March 3 morning the AMD/ EUR exchange rate was 385,71 AMD/ 1 EUR, and
AMD/USD exchange rate was 308 AMD/ 1 USD. By 11 am, by the decision
of the Central Bank of Armenia and intensification of the panic,
the AMD exchange rate fell by 30% within an hour.